Taiwan Cement Corp to sign syndicated loan for expansion

Taiwan Cement Corp is expected to sign the contract for a syndicated loan worth NT$12.5bn (US$416.67m) to expand operations in China and acquire local cement plants.

The Chinese banks with branches in Taiwan, Bank of China and Bank of Communications, are said to be among the underwriting banks. Mega International Commerical Bank is the leading undwriter among the other Taiwanese banks including Taiwan Cooperative Bank, Hua Nan Bank, First Commerical Bank and Chinatrust.

The five-year loan has a lending rate of 1.8 per cent per annum. (Source: Taiwan Economic News).